Perk Labs Partners with BitPay to Accept Cryptocurrency Payment
Perk Labs Inc. (OTCQB: PKLBF) announced a partnership with BitPay to accept cryptocurrency payments via its mobile commerce platform, Perk Hero. This integration will enable customers to pay with Bitcoin, Ethereum, and other cryptocurrencies, enhancing payment options and lowering costs compared to traditional credit card transactions. The partnership aligns with Perk's strategy to utilize blockchain technology for digital loyalty rewards. Additionally, Perk has filed a provisional patent for a technology aimed at improving the efficiency of cryptocurrency transactions.
- Partnership with BitPay enhances the Perk Hero platform by enabling cryptocurrency payments.
- Acceptance of multiple cryptocurrencies could attract a larger customer base.
- Potential reduction in transaction costs compared to credit cards may improve profit margins.
- Dependence on the volatile cryptocurrency market may pose risks for future revenue stability.
VANCOUVER, BC / ACCESSWIRE / June 1, 2021 / Perk Labs Inc. (CSE: PERK)(OTCQB:PKLBF)(FKT:PKLB) ("Perk" or "the Company"), the parent company of Perk Hero, the mobile commerce platform with perks on curated specialty products and digital gift cards, is pleased to announce that it has partnered with BitPay, the world's largest provider of Bitcoin and cryptocurrency payment service, to accept cryptocurrency as a form of payment. BitPay is used by brands such as Twitch, AT&T and Dish Networks. As a result of this partnership, Perk Hero will accept a number of cryptocurrency payments including Bitcoin, Bitcoin Cash, Ethereum, and Dogecoin to cater to the growing demand.
"This relationship provides our customers with a convenient option to pay with their preferred digital currency," says Perk Labs CEO Jonathan Hoyles. "On top of being able to offer a payment method that is less expensive and more secure than credit cards, it also opens up an opportunity to market Perk to the cryptocurrency community. In the past year there has been a surge in cryptocurrency usage and we expect to see cryptocurrency increasingly used for payments, especially as the speed and convenience of paying with cryptocurrency continues to improve."
The integration with BitPay compliments Perk Hero's digital loyalty currency, Perk Coin. Whenever customers make a purchase using Perk Hero, regardless of the payment method, customers receive instant digital rewards in the form of Perk Coin that can be used for purchasing digital gift cards and goods and services. In addition to cryptocurrency, Perk Hero also accepts all major credit cards, Alipay and EFT/ACH as payment options.
"BitPay makes accepting crypto a quick and easy process for Perk so they can realize the benefits to receiving payments faster, more secure, and less expensive while expanding on a global scale," said Stephen Pair, CEO of BitPay. "We see the future of payments on the blockchain and work with customers like Perk to transform how people send, receive, and store money."
Providing customers with the option to pay with cryptocurrency is an important step in the Company's plan to further adopt and use blockchain technology for its digital loyalty rewards. The Company previously conducted research and published a whitepaper on blockchain-based digital loyalty rewards and filed a provisional patent application with the United States Patent and Trademark Office directed at methods, systems and techniques for cryptographic token transfers.
Perk's patent application has been made for a foundational technology that lowers costs and improves speed and efficiency of cryptocurrency transactions, even where the value of the transaction may be relatively small, as well as facilitates converting between cryptocurrencies whose transactions are recorded on different blockchains. It also facilitates storing information of different sensitivity levels on differently permissioned blockchains, which is useful for maintaining privacy.
About BitPay
Founded in 2011, BitPay pioneered blockchain payment processing with the mission of transforming how businesses and people send, receive, and store money. Its business solutions eliminate fraud chargebacks, reduce the cost of payment processing, and enable borderless payments in cryptocurrency, among other services.
BitPay offers consumers a complete digital asset management solution that includes the BitPay Wallet and BitPay Prepaid Card, enabling them to turn digital assets into dollars for spending at tens of thousands of businesses. The company has offices in North America, Europe, and South America and has raised more than
About Perk Labs Inc.
Perk Labs Inc. (CSE: PERK) (OTCQB: PKLBF) (FKT: PKLB) is the owner of Perk Hero, the mobile commerce platform on a mission to make shopping experiences more engaging, convenient, and rewarding. Perk has partnered with vetted specialized brands across North America to bring its customers products that are eco-friendly, natural, organic, and ethically sourced. Consumers can also buy digital gift cards from top merchants that include gaming and electronics, apparel, dining, and more. The Perk Hero platform, currently available in Canada and the U.S., was engineered for reliability and scale using enterprise-level technology fit for businesses of all sizes. The platform also features Shopify integration, contactless payments using Apple Pay, Google Pay, BitPay and Alipay, as well as its own digital currency called Perk Coin, a gamified loyalty program, e-commerce dropshipping capabilities, pre-order and pick up, and in-store payments with a QR code.
For more information about Perk Labs, please visit www.perklabs.io. Visit Perk Hero at www.perkhero.com.
For more information contact:
Jonathan Hoyles
CEO
Perk Labs Inc.
(833) 338-0299 investors@perklabs.io
Iryna Zheliasko,
Manager, Corporate Communications
CHF Capital Markets
416-868-1079 x 229
iryna@chfir.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This press release contains forward-looking information or forward-looking statements (collectively "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: "may", "believe", "thinks", "expect", "exploring", "expand", "could", "anticipate", "intend", "estimate", "plan", "pursue", "potentially", "projected", "should", "will" and similar expressions, or are those, which, by their nature, refer to future events. These forward-looking statements, which involve risks and uncertainties, relate to, among other things, the discussion of the Company's business strategies and its expectations concerning future operations, the demand for cryptocurrency as a payment method, and that cryptocurrency payments will be less expensive than credit cards. Although the Company considers these forward-looking statements to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking statements. Undue reliance should not be placed on such forward-looking information, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur.
SOURCE: Perk Labs Inc.
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https://www.accesswire.com/649835/Perk-Labs-Partners-with-BitPay-to-Accept-Cryptocurrency-Payment
FAQ
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